Ripple Price (XRP) Holding Ground While Bitcoin Dived 15%
Ripple price failed to climb above the $0.3230 resistance and resumed decline against the US dollar.
The price broke the $0.3000 support level and traded to a new monthly low at $0.2835.
This week’s followed bearish trend line is active with resistance at $0.3075 on the hourly chart of the XRP/USD pair (data source from Kraken).
The price could decline below $0.2800 if it continues to struggle near $0.3075 and $0.3100.
Bitcoin Investor: We’ll Never See $10K Again After Next Cycle Low
Thursday September 19, 2019
After a powerful parabolic rally in the second quarter of 2019, Bitcoin price is struggling to maintain the bullish momentum the crypto asset once had behind it and is currently consolidating in a tightening...
The post Bitcoin Investor: We’ll Never See $10K Again After Next Cycle Low appeared first on 12bitplay - Bitcoin Play.
Ripple price is holding an important support against the US Dollar, while bitcoin and Ethereum dived nearly 15%. XRP price could extend its decline if there is a break below the $0.2800 support.
Ripple Price Analysis
Yesterday, we saw a decent upside correction in ripple price above $0.3100 against the US Dollar. However, the XRP/USD pair struggled to gain momentum above the $0.3200 and $0.3230 resistance levels. The price topped near the $0.3230 level and remained well below the 100 hourly simple moving average. As a result, there was a fresh bearish reaction and the price declined below the $0.3150 and $0.3100 support levels.
More importantly, the recent significant decline bitcoin and Ethereum pushed ripple price below the $0.3000 support level. However, losses were limited and the price traded to a new monthly low at $0.2835. It even corrected higher above the $0.3000 level plus the 50% Fib retracement level of the recent decline from the $0.3237 high to $0.2835 low. The upward move was capped by the $0.3080 level.
The price failed to break the 61.8% Fib retracement level of the recent decline from the $0.3237 high to $0.2835 low. Moreover, this week’s followed bearish trend line is active with resistance at $0.3075 on the hourly chart of the XRP/USD pair. Therefore, the price might struggle to break the $0.3075 and $0.3100 resistance levels. If there is an upside break above $0.3100, the price could correct towards the $0.3200 level and the 100 hourly SMA.
On the other hand, if the price fails to break the $0.3100 resistance, it could slide again. An immediate support is near the $0.2900 level, below which the price may even break the recent low at $0.2835. The next important support is near the $0.2800 and $0.2780 levels.
Crypto Exchange to Open in Crisis-Stricken Argentina, Where Bitcoin is at an ATH
Tuesday September 17, 2019
Huobi Group, the operators of one of the world’s largest crypto asset trading venues, has announced that it will launch a digital currency exchange in Argentina. The new platform is expected to go live...
The post Crypto Exchange to Open in Crisis-Stricken Argentina, Where Bitcoin is at an ATH appeared first on 12bitplay - Bitcoin Play.
Looking at the chart, ripple price is currently struggling to gain bullish momentum above $0.3000. Therefore, there is a risk of more losses below the $0.2900 and $0.2800 levels in the near term.
Hourly MACD – The MACD for XRP/USD is struggling to move back into the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently near the 40 level, with a bearish angle.
Major Support Levels – $0.2850, $0.2800 and $0.2780.
Major Resistance Levels – $0.3075, $0.3100 and $0.3200.
The post Ripple Price (XRP) Holding Ground While Bitcoin Dived 15% appeared first on NewsBTC.
Crypto Analyst: Bitcoin Price Boredom Ends With Break of $9K or $12K
Tuesday September 17, 2019
Bitcoin price action has gone stagnant, causing volatility to disappear, and turning trader’s attention to toward altcoins like Ethereum and Ripple which are finally having some time in the limelight. But for the leading...
The post Crypto Analyst: Bitcoin Price Boredom Ends With Break of $9K or $12K appeared first on 12bitplay - Bitcoin Play.